Bluevine Agreement, Terms, and Policy Updates
Business Checking Account Agreement Update – August 1, 2023
- Customer Support (Subsection A(6)): Updated Bluevine’s address.
- Bluevine Business Checking Account Sweep Program (Subsection B(3)): Added this new subsection to describe the Bluevine Business Checking Account Sweep Program and incorporate the Bluevine Business Checking Account Agreement Sweep Disclosure as a binding supplement to the Account Agreement; subsequent subsections were renumbered.
- Duties of Bank (Subsection F (6)): updated Bluevine’s address.
Global Privacy and Security Policy Update — August 1, 2023
Deposit Account Agreement Update – July 17, 2023
- Our Agreement (Section A): Added political campaigns to list of prohibited businesses.
- Closing the Account (Subsection A(3)): Clarified how funds are treated in the case of actual or suspected fraud.
- No Overdrafts (Subsection C(9)): Clarified that the right to set-off includes liabilities arising from extensions of commercial credit.
- Personal Identification Number (Subsection D(2)): Revised and expanded language regarding restrictions on sharing PIN for Customer’s Bluevine Business Debit Mastercard.
- Lost or Stolen Card and Account Information; Information About Transaction Disputes (Card Transactions Only) (Subsection D(10)): Expanded language regarding Customer’s responsibility for others’ use of the Bluevine Business Debit Mastercard as well as Customer’s responsibility to inform Bank of errors or unauthorized and provide Bank with necessary information to investigate the same.
- Security Procedures (Subsection E(1)): Added this new subsection to discuss the use of Security Procedures in connection with payment orders; subsequent subsections were renumbered.
- Customer’s Additional Responsibilities (Subsection E(3)): Added language explaining that Customer is responsible for establishing and maintaining security measures and complying with Security Procedures in connection with the protection of their Account Credentials.
- Unauthorized Transactions and Errors (Subsection E(6)): Added language explaining that Customer will be responsible for unauthorized transactions, including errors, until they have provided Bank with notice and Bank has had an opportunity to act on the same.
- Current Day Balance Information and Current Day Transactions (Subsection E(10)): Added language explaining the accuracy of external account balances displayed on the Website or Mobile App, disclaiming liability for any errors or omissions in connection with the same, instructions to sync external accounts to view their most updated balances, and advising Customer to review external account transactions to confirm current external account balances.
- Verification of Wire Transfer Requests (Subsection F(2)): Added language clarifying required compliance with Security Procedures.
- Adequacy of Security and Verification Procedures (Previous Subsection F(3)): Deleted this subsection as Security Procedures are discussed in newly added subsection E(1); subsequent subsections were renumbered.
- Schedule of Fees (Section J): Added fees for Allpoint ATM deposits as well as outgoing international wire transfers.
- Mobile Deposit Limits and Availability of Funds (Subsection K(5)): Added language explaining partial funds availability for checks subject to holds.
- General (Subsection M(1)): Revised language referring to the Interest Earned on Bluevine Business Checking Account page.
- Subject to Change (Subsection M(2)): Clarified that notice of changes to interest payable and the method used to calculate it shall be given only for material changes.
- Interest Calculation (Previous Subsection M(3)): Deleted this subsection as the topic is discussed on Interest Earned on Bluevine Business Checking Account page referred to in subsection M(1).
Global Privacy and Security Policy Update – March 17, 2023
- Reformatted and updated “BlueVine” to “Bluevine”.
- What information do we collect?: clarified our methods of information collection.
- What do we do with the information we collect?: clarified how we may use collected information.
- Do we disclose any information to outside parties?: revised the list of categories of third-parties with whom we may share information.
- Your California Privacy Rights: clarified our obligations under state privacy laws.
- A. What Information We Collect: added a new subsection on Sensitive Personal Information to align with recent regulations.
- B. What We Do with Your Information: clarified the limited extent of our collection, use, and disclosure of Sensitive Personal Information.
- D. With Whom We Disclose Information: clarified that we do not sell personal information in the traditional sense but that certain aspects of our activity may be considered “sharing” as defined by the CCPA; added new language relating to cross-context behavioral advertising.
- E. Your Privacy Rights: updated the list of rights to reflect the changes set forth in the CCPA/CPRA; added new methods to exercise those rights.
- Contact Us: updated our contact information to reflect the new requirements under the CCPA/CPRA.
Bill Pay Terms of Service Updates — March 14, 2023
- 1.2 Legal Ownership of Funds: Updated information regarding banking services provided by Silicon Valley Bank, N.A., a full-service bridge bank created and operated by the FDIC.
Account Agreement Update – March 1, 2023
- Section M: Changed the cap on interest eligibility to be balances over $250,000.
- Interest Earned on Bluevine Business Checking Account: Changed the cap on interest eligibility to be balances over $250,000.
Bill Pay Terms of Service Update – February 27, 2023
- 3.5 International Payments: Added terms regarding International Payments Services and the International Payments Provider.
Bill Pay Terms of Service Update – January 12, 2023
- 1.2 Legal Ownership of Funds: clarified Bluevine’s provision of payment processing services
- 2.3 Restricted Transactions: clarified the list of restricted transaction categories
- 2.5 Funding Method Verification: clarified that verification requirements apply to all Funding Methods
- 3.1 Necessary Payment Data and Authorization: deleted references to Virtual Card Payments
- 3.2 Payment Authorization: clarified this section as it applies to different Funding Methods
- 7 Arbitration and Waiver of Jury Trial: deleted “We will pay the initial filing fee to commence arbitration and other fees we are required to pay by the AAA Rules.” If we have a dispute that goes to arbitration, you will be responsible for your own portion of the arbitration fees.
- 8 Fee Schedule: Added the $1.50 fee for each Outgoing Physical Check
Account Agreement Update – November 1, 2022
- Opening the Account (Section B(1)): Account owner parameters regarding age, location, business ownership, number of accounts, and business type.
- Our Right to Limit Transactions and Account Features (Section B(10)): Reputation concerns and description of inquiry process.
- Account Dormancy and Escheatment (Section C(12)): Dormancy policy for newly opened accounts.
- Transaction Limitations (Section D(5)): Restricted industry transactions and general debit transaction limitations subject to cash withdrawal limitations.
- Customer’s Acknowledgement (Section E(1)): Acknowledgment regarding bulk and scheduled transactions.
- Information Processing (Section E(4)): Customer upload of invoices or bills to Account including through special purpose email address provided to Account.
- Electronic Funds Transfer Disclosure and Special Terms and Conditions (throughout Section G): Addition of Same Day ACH and related items.
- Schedule of Fees (Section J): Addition of Same Day ACH.
- Mobile Deposit Limits and Availability of Funds (Section K(5)): Regulatory agreement about mobile deposits and partial funds availability.
- Prohibited Checks (Section K(6)): Checks from U.S. territories.
Registration Terms – July 10, 2022
- Changes throughout Registration Terms from “BlueVine” to “Bluevine.”
- General: Overview of services and partner banks.
- Required Hardware and Software: Minimum requirements and recommended versions for operating systems and browsers.
- Your Consent to Receive Automated Calls/Texts: Operation of text messages, short code program, opt-in procedures, and types of messages.
- Bluevine’s Business Network and Virtual Card Payments: Business Network directory, Participants, communications, and payment/payee/virtual card instructions.
- Third-Party Services or Products and Links to Other Websites: Customer responsibility for use of third-party services, products, and linked websites.
- Arbitration and Waiver of Jury Trial: Arbitration provision updated to align with Arbitration provision in Bluevine Business Checking Account Agreement.
- Jurisdiction and Severability: Severability and construal of Registration Terms.
- Updates to the Registration Terms: Registration Terms updates, acceptance, and continued use of Services.
- Notice to Married Applicants: Removed.
Account Agreement Update – May 1, 2022
- Our Right to Limit Transactions and Account Features (Section B(10)): Requests for additional information, cooperation, and limitations.
- Arbitration and Waiver of Jury Trial (Section I): Update to arbitration provision.
- General (Section M(1)): Interest page updates include interest rate and qualifying activity required for interest after May 1, 2022.
Bill Pay Terms of Service Update – February 22, 2022
- Eligibility Requirements (Section 1.3): User’s business entity domiciled in one of the fifty United States or the District of Columbia.
- Unauthorized Use (Section 1.5): User to comply with, among other things, OFAC sanctions laws, payment network rules, and Nacha Operating Rules. Bluevine and its banking services partner may audit or review compliance with the Agreement and Services.
- Supported Funding Methods and Payment Methods (Section 2.1): Payees can receive funds via ACH, wire, physical checks, and MasterCard’s RPPS.
- Supported Card Networks (Section 2.4): Cards issued by Visa®, MasterCard®, and Discover® may be used as Funding Methods.
- Funding Method Representations (Section 2.6): User agrees to comply with, among other things, laws administered by OFAC, payment network rules, and Nacha Operating Rules.
- Payment Authorization (Section 3.2): User authorizes Bluevine and Bluevine’s banking services partner to follow payment instructions submitted by User, including but not limited to authorization to originate Entries to Receivers.
- Arbitration and Waiver of Jury Trial (Section 7): Arbitration provision updated to align with Arbitration provision in Bluevine Business Checking Account Agreement.
- Fee Schedule (Section 8): Fee schedule for outgoing wire and Bill Pay with Credit Card Transaction fees.
Account Agreement Update – February 1, 2022
- Business Deposit Account (Section B(2)): Account and Sub-account are business deposit accounts.
- Sub-account (Section B(4) and throughout Account Agreement): Addition of Sub-account feature and related terms.
- Compliance with Laws and Regulations (Section B(6)): Customer indemnification of Bank and Bluevine for breach of provision.
- Deposits to the Account (Section C(1)): Deposits made to Account or Sub-account aggregated for determination of frequency and dollar limits.
- No Cash, Paper Checks or Foreign Currency (Section C(2)): Cash deposits not directly accepted. Reference to Deposits to the Account, Section C(1).
- No Overdrafts (Section C(9)): Negative balance, set-off, lien, security interest or expense repayment, and collection from Account or Sub-account after 60 days.
- Limitations of Bank’s Liability and Obligations to Customer (Section E(8)): Customer indemnification of Bank and Bluevine for third-party lawsuit or claim relating to Agreement.
- General (Section F(1)): Outgoing wire transfer fee charged to Account or Sub-account.
- Fees and Charges (Section F(8)): Outgoing wire transfer fee charged to Account or Sub-account.
- Compliance with Laws (Section F(9)): Customer representations regarding not being located in U.S.-government sanctioned country, not being designated a Specially Designated National or “terrorist supporting” country, not using Account or services provided by Bluevine or Bank to facilitate payments to a sanctioned country, person, group, or entity.
- Hours of Operation and Cut-Off Times (Section F(10)): Outgoing wire transfer requests received before 3:30 PM ET.
- Limitations on Transfers, Amounts and Frequency of Transactions (Section F(11)): Wire transfers from Account or Sub-account aggregated for frequency and dollar limit determinations.
- Transaction Limits (Section G(2)): ACH transfers from Account or Sub-account aggregated for frequency and dollar limit determinations.
- Schedule of Fees (Section (J)): Reference to Section C(1).
- Mobile Deposit Limits and Availability of Funds (Section K(5)): Mobile Deposits to Account or Sub-account aggregated for frequency and dollar limit determinations.
- Funds Availability Policy (Section L): Funds Availability Policy applies to Account and Sub-account.
- Same-Day Availability (Section L(4)): Funds from cash deposits made through third-party money transfer services available within two days of receipt of deposits. Reference to Section C(1).
- General (Section M(1)): Acknowledgement of Interest webpage. Interest page updates include aggregating Account and Sub-account balances for interest and maximum balance, interest on Account and Sub-account paid to Account, and includes qualifying activity required for interest after May 1, 2022.
- Subject to Change (Section M(3)): Interest calculation uses total balance of Account and Sub-account. Interest calculation provision from Section M(2) moved to Section M(3), defines Qualifying Account, interest on Account and Sub-account paid to Account.
Account Agreement Update – October 19, 2021
- Additional User (Section B(3) and throughout Account Agreement): Change of terminology to “Additional User” within Account Access feature.
- Deposits to the Account (Section C(1)): Frequency and dollar limits for qualifying transfers to Account via website or mobile app and cash transfers.
- No Overdrafts (Section C(9)): Negative balance payments and negative balance collection efforts.
- Cash Access (Section D(4)): $2.50 fee for each out-of-network (non-MoneyPass®) ATM transaction.
- Transaction Limits (Section D(5)): Frequency and dollar limits for debit card transactions.
- Limitations on Transfers, Amounts and Frequency of Transactions (Section F(11)): Frequency and dollar limits for outgoing wires.
- Transaction Limits (Section G(2)): Frequency and dollar limits for ACH transfers to an external account.
- Duty to Report (Section H(3)): Duty and procedures to examine periodic statements, and report unauthorized signatures, alterations, or forgeries involving physical checks.
- Schedule of Fees (Section J): $2.50 fee for each out-of-network (non-MoneyPass®) ATM transaction.
Account Agreement Update – October 4, 2021
- Our Agreement (Section A): Account cannot be used to provide banking or financial services to any third parties.
- Customer Support (Section A(6)): Bluevine’s Customer Support contact information.
- Transaction Limits (Section D(5)): Hold period for certain types of transactions (including, but not limited to, pay at the pump and travel & entertainment).
- Card Replacement and Expiration (Sections D(8)&(9)): Process of replacing a Bluevine Business Debit Mastercard; automatic mailing of new debit cards to users prior to the expiration date of previous cards.
- Information Processing (Section E(4)): Information and instruction processing.
- Wire Transfers (Section F(1)): Initiation of wire transfers via the Website or Mobile App.
- Arbitration (Section I): Full arbitration terms.
- Mobile Deposits (Section K(7)): Information regarding third-party checks without sufficient identifying information.
Account Agreement Update – September 1, 2021
- Bluevine entered into a new banking service partnership with Coastal Community Bank, Member FDIC.
- As part of the transition, in order to maintain a Bluevine Business Checking account, customers accepted the Account Agreement.